In today’s market report… Asian shares eased from highs on Tuesday, as excitement about China's ending its yuan currency peg waned.
China's central bank raised the yuan's mid-point against the dollar in its market fixing Tuesday, but doubts continued about how much further appreciation would be allowed.
The Nikkei edged back from a one-month peak, as foreign investors turned sellers after the benchmark's best weekly performance in three months.
Still, Nippon Paper eased after it took a 12 percent stake in Hong Kong's Lee and Man Paper Manufacturing for about $455 million.
Japan unveiled its fiscal plan ahead of next month's election, and the government has already hinted that a doubling in the sales tax to 10 percent was under consideration.
Elsewhere, markets including Seoul's KOSPI index retreated from near year highs, although POSCO rose after the world's No.4 steelmaker announced plans to hike prices by 6 percent from July.
